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View Full Version : Dow falling 200+ points in 2 minutes since open.


TheEvilDetector
10-08-2008, 07:17 AM
Far out.
rockjoa
10-08-2008, 07:18 AM
PPT activated
TheEvilDetector
10-08-2008, 07:19 AM
Yeah, I noticed it immediately retraced 150 points.
brandon
10-08-2008, 07:19 AM
8000 by close on Friday?
rockjoa
10-08-2008, 07:20 AM
PPT working but now failing, dow continuing downwards.
Maverick
10-08-2008, 07:20 AM
That's even despite the Fed's emergency 1/2 point cut earlier this morning.
TheEvilDetector
10-08-2008, 07:22 AM
It's a tragedy unfolding, but it's so exciting, sitting on the edge of my seat, watching this go down (no pun intended).
rockjoa
10-08-2008, 07:23 AM
PTT working again, failsafe propping up dollar weakening
rockjoa
10-08-2008, 07:24 AM
Wonder if FED injected 100's of billions in just now
TheEvilDetector
10-08-2008, 07:27 AM
It's a battle between market forces and big brother.

LOL

Public Law 100-666 "Economic Liberty and Improvement Act"

Division A
Title 1
Section 1
Paragraph a

1. Whosoever decideth to buy or sell securities, must first obtaineth permission of Secretary of Buying and Selling (hereinafter referred to as Secretary) in the Office of Economic Improvement.

2. Secretary shall maketh his determination to grant permission upon the likelihood of the transaction in propping up value of the underlying security being traded.

3. Whosoever maketh a security transaction without obtaining the permission of the Secretary, will have his or counterparties securities confiscated and will be imprisoned for a period of not less than 1 year with the possibility of hard labour.
chris198
10-08-2008, 07:29 AM
DOW is in the green.
Maverick
10-08-2008, 07:30 AM
Oh snap, the PPT must be be working some serious overtime. The DOW just jumped up to +40.
rockjoa
10-08-2008, 07:30 AM
If this stays positive today they will blame the success on Bernake, Bush, and the Bailout Bill. They will be shown as heros in the news.
brandon
10-08-2008, 08:43 AM
That's even despite the Fed's emergency 1/2 point cut earlier this morning.

The rate cut was meaningless. Federal Funds were already trading around 1.4% before the cut. Cutting the nominal rate to 1.5% won't fool anyone who is paying attention.
noxagol
10-08-2008, 08:46 AM
If this stays positive today they will blame the success on Bernake, Bush, and the Bailout Bill. They will be shown as heros in the news.

And if it fails, it will obviously be because they did not do enough.
Paladin69
10-08-2008, 09:24 AM
Can someone explain the PPT again? I know the Treasury secretary is apart of the team. But are they using taxpayer funds to try and prop up the market? ...erm, or should I say printed money to prop up the market?
acptulsa
10-08-2008, 09:26 AM
Can someone explain the PPT again? I know the Treasury secretary is apart of the team. But are they using taxpayer funds to try and prop up the market? ...erm, or should I say printed money to prop up the market?

Yup. So the stockholders wind up owning the worst stocks--at least until they become worthless.

Make you proud to be an American?
Mister Grieves
10-08-2008, 09:26 AM
Can someone explain the PPT again? I know the Treasury secretary is apart of the team. But are they using taxpayer funds to try and prop up the market? ...erm, or should I say printed money to prop up the market?
The only money the government has comes from the taxpayer in one form or another.
Fox McCloud
10-08-2008, 09:27 AM
The rate cut was meaningless. Federal Funds were already trading around 1.4% before the cut. Cutting the nominal rate to 1.5% won't fool anyone who is paying attention.

next stop "Oh, this is such a bad situation that we need another 50 basis point cut"

:rolleyes: Bernanke is such a genius [/sarcasm].
Original_Intent
10-08-2008, 09:33 AM
I honestly don't think there is a dang thing they can do that will turn the market around. Seriously the best thing that they could do would be to say "Sorry folks we are up against forces bigger than us and we will just need to ride this one out. Oh and we are rescinding the 850b bailout package." The market would probably go up 500, just based on the fact that they are finally getting real.
HOLLYWOOD
10-08-2008, 10:08 AM
The US stock markets have turned into the NBA.

All you need to do is watch the last 2 minutes of each trading day... unless you are a trader, then you have to watch EVERY minute in your trading.

Becareful of 'WASH SALES' (losses) which the IRS/TREASURY are enforcing MORE THAN ANY OTHER TAX ISSUE.

They don't want to give the individual any tax writeoffs on short term loses.

They (IRS/TREASURY) are EVIL!